TEFAF’s 2017 Art Market Report

Headline Figures

• sales in the global art market reached $45bn in 2016, up nearly 1.7% compared to 2015.
• Europe had sales exceeding $20.5bn
• Americas $14.5bn
• Asia almost $10bn

Specific Markets

• US totalled 29.5%
• UK at 24%
• China 18%

Global Auction Sales

• $16.9bn down 18.8% on the 2015 figure $20.8bn
• Total volume (number of items) sold decreased by 21.5%
• US auction value dropped by 41% (far exceeding the 9% percent drop in consignments)
• a 13% drop in the value of auction sales in Europe (from $6bn in 2015 to $5.22bn in 2016).
• Asia now has the largest share of the global auction market at 40.5%, dominated by China

The report will be released on Friday but you can download a copy here: TEFAF Art Market Report 2017